Construction begins on purpose-built rental tower in Toronto

Minto Capital Management says that it has started construction of a purpose-built rental tower at 39 Niagara St. in Toronto.

The project, located at the northeast corner of Bathurst and Front streets, consists of 501 rental units, 54,700 sq. ft. of retail space, and more than 25,000 sq. ft. of indoor/outdoor amenities.

“39 Niagara offers significant living value in the downtown Toronto market for future residents,” Minto Capital president Rob Pike said in a statement. “As the investment management arm of The Minto Group, Minto Capital is well positioned to continue to identify investment opportunities that will drive solid returns for our investors.”

Construction is expected to be completed in the second quarter of 2019.